How changes to bank accounts can affect you

Barclays’ revamp of its current accounts is seen as a sneaky way to force customers into pricey packaged deals. And it is not the only culprit

Barclays was accused of confusing customers last week after it was revealed that the vast majority could be worse off following its move to "simplify" current accounts.

Consumer groups also said Britain's third-biggest bank was using the overhaul to sell fee-charging current accounts by stealth. Andy Harris, head of current accounts, said last week the bank was looking to triple sales of its most-expensive account, Premier Life, which costs up to £25 a month. It also wants to sell a £14-a-month Additions Active account to one in four new customers.

The changes, which come into force in August, will benefit the 2m or so customers who frequently go into unauthorised overdraft. However, most of Barclays' 11m customers who occasionally dip into authorised overdraft will lose out after the bank raised the interest charged by 2.3 points, from 15.6% to 17.9%. It will no longer offer interest-free overdrafts to new customers